Following volatile leads, the Australian share market looks set to open lower. International bourses continue to eye the upcoming US Federal Reserve meeting which commences today. A shining light in the overnight session was a bounce in oil prices, up from multi-year lows.
Markets
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.6 per cent to close at 17,369 , the S&P 500 added 0.5 per cent to close at 2,022 and the NASDAQ gained 0.4 per cent to close at 4,952.
European markets closed lower: London’s FTSE lost 1.3 per cent, Paris lost 1.7 per cent and Frankfurt lost 1.9 per cent.
Asian markets closed mixed: Tokyo’s Nikkei lost 1.8 per cent, Hong Kong’s Hang Seng lost 0.7 per cent, and China’s Shanghai Composite gained 2.5 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 101 points down to finish at 4,929. On the futures market the SPI is 1 point down.
Currencies
The Australian Dollar at 8:20AM was buying $US0.7241 cents, 47.84 Pence Sterling, 87.62 Yen and 65.9 Euro cents.
Economic news
Treasurer Scott Morrison is expected to reveal a $5 billion budget deficit in today’s Mid-Year Economic and Fiscal Outlook (MYEFO). The Reserve Bank of Australia will release its meeting minutes for December. Meanwhile, due out from the Australian Bureau of Statistics is residential property prices for the September quarter and new motor vehicle sales for November. Also scheduled for release today is the ANZ/Roy Morgan weekly consumer confidence read.
Company news
NAB Limited
(ASX:NAB) has appointed Lorraine Murphy as Group Executive, People. Ms Murphy joins NAB from Air New Zealand. The appointment was the result of an extensive global executive search. Shares in NAB closed 2.31 per cent lower yesterday at $27.94.
Intueri Education Group
(ASX:IQE) has confirmed that it has not been approached or had discussions with any other parties in relation to a takeover of the business. The New Zealand-based group issued a release to the ASX in response to media speculation. Shares in Intueri Education Group closed 5.36 per cent lower yesterday at $0.53.
Commodities
Gold has lost $12.10 to $US1,064 an ounce for the February contract on Comex.
Silver has lost $0.19 to $13.70 for March.
Copper has lost $0.01 to $2.11 a pound.
Oil has gained $0.26 to $US37.51 a barrel for January light crude in New York.
